Saipem nets $1B deal
- Business & Finance
Italy’s Saipem, through its controlled company ERSAI Caspian Contractor LLC, has been awarded a major new Engineering & Construction contract in the Caspian Region.
The contract awarded to ERSAI, in consortium with Daewoo Shipbuilding & Marine Engineering Co., is worth approximately $1 billion. Contract scope includes yard engineering, fabrication and pre-commissioning activities as well as the load-out of 55,000 tons of pipe racks.
Umberto Vergine, Saipem CEO, commented: “This contract underlines our excellent track record in a key market for Saipem and I look forward to the continued development of our presence in the Caspian Region, working with our local partners to deliver a high quality service to some of our most important clients”.